Young Helps Secure Wins for Hoosier Job Creators and Families, Says He Is Pleased With Provision Providing Medical Device Manufacturers Relief From Industry-Specific Tax Increase

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Congressman Todd Young (R-IN), who is a member of the tax-writing Ways and Means Committee, proudly supported legislation that extends or makes permanent key tax-relief provisions and sets the stage for comprehensive reform of the broken tax code. Rep. Young issued the following statement after final passage of the bill:

"This week I'll return home to Indiana knowing I voted to prevent a tax increase on Hoosier families and job creators," said Young. "Since coming to Congress, I've worked to keep taxes low for as many Americans as possible and I've voted to protect local job creators and manufacturers from tax increases that threaten the jobs and wages of the people I was elected to serve. Hoosiers I talk to don't want more of their hard-earned dollars being sent to Washington. They want to see long-term, local economic growth. Today's vote puts us one step closer toward providing the certainty in the tax code needed for increased investment, employment, and incomes across the board."

One provision of special importance to Indiana is a two-year suspension of the 2.3% tax increase levied on medical device companies' revenues in 2013 to off-set costs of the $1.1 trillion Affordable Care Act. Young has worked to eliminate the tax increase in his capacity as a member of Ways and Means and presented a strong case for achieving full repeal before the full House of Representatives.

"Hard-working Hoosiers transformed our local medical device manufacturing presence into an internationally recognized industry," said Young. "It's an Indiana success story we're very proud of, and I remain dedicated to getting rid of the industry-specific tax increase which not only punishes that success but is a disservice to the 20,000 Hoosiers working in the field who helped create it. The vote for this bill today is a vote to protect Indiana jobs."

Steve Ferguson, Chairman of Bloomington-based medical device maker Cook Group agreed:

"We are grateful for Representative Todd Young's leadership to suspend the medical device excise tax," Ferguson said. "Representative Young was instrumental in advancing the legislation through the Ways and Means Committee on which he serves. This is important legislation for Hoosier jobs, patients, innovation and industry and we look forward to working with the Indiana delegation and others to permanently repeal this tax once and for all so that the U.S. device manufacturing jobs grow well into the future."

A leading medical device company which employs over 5,000 people in the Warsaw, Indiana community also applauded Young for his leadership:

"Zimmer Biomet appreciates the support Congressman Young has provided on the medical device tax issue and many other issues of importance to the Indiana medical device industry," said Chris Cerone, Zimmer Biomet's VP of Global Government Affairs. "His work on the Ways and Means Committee and his collaboration with the other members of the Indiana Congressional delegation have had a positive, lasting impacting on Indiana and its business community."

Meanwhile, other local Indiana manufacturers expressed satisfaction with the tax-relief provisions contained in the legislation:

"This bill provides stability in the U.S. tax code, which is one of the most important actions Congress has taken in years," said Paul Bonin, President of Bertrand Products in South Bend, Indiana. "Thanks to Congressman Young's leadership, manufacturers across Indiana know what the rules are and can create new manufacturing jobs in our state for years to come," added Mr. Bonin.

"From the first time I met Congressman Young, I knew he understood the issues facing manufacturers in Indiana," said Jody Fledderman, President and CEO of Batesville Tool & Die in Batesville, Indiana. "As a leader on the tax writing committee, Congressman Young stood up for all Hoosiers and got the job done."

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